That is going to leave a mark

Highland Mall sold for $1.03mm, and had liquidation expenses of $13.2mm resulting in a 119.99% loss to the trust on the loan that was originally a $71mm loan and was the largest loan in the JPMCC 2002-CIB4 deal.

Highland was a feisty little cat on her way down, but  this never looked like it was going to end well.

It is now home to Austin Community College, but was once a Rouse Mall and most recently a jv between GGP and Simon. Further, while dire, Realpoint only projected a 75% loss on the loan.

UPDATE: CrabsOfSteeel found this gem from HighlandMallsNotClosing.com (which seems like an otherwise dead site):